RIDER

DISCLAIMER

Certain of the statements contained in these materials are forward-looking statements and are based on future
expectations, plans and prospects for Moody’s business and operations that involve a number of risks and
uncertainties. The Company disclaims any duty to supplement, update or revise such statements on a going-forward
basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the
“safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company has identified certain
factors that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking
statements. Those factors, risks and uncertainties include, but are not limited to, the current world-wide credit market
disruptions and economic slowdown, which is affecting and could continue to affect the volume of debt and other
securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and
other securities issued in domestic and/or global capital markets, including credit quality concerns, changes in
interest rates and other volatility in the financial markets; the uncertain effectiveness and possible collateral
consequences of U.S. and foreign government initiatives to respond to the economic slowdown; concerns in the
marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent
agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from
competitors and/or customers; the impact of regulation as an NRSRO, the potential for new U.S., state and local
legislation and regulations, including provisions in the recently enacted Dodd-Frank Wall Street Reform and
Consumer Protection Act (the “Financial Reform Act”) and anticipated regulations resulting from that law; the potential
for increased competition and regulation in foreign jurisdictions; exposure to litigation related to our rating opinions, as
well as any other litigation to which the Company may be subject from time to time; provisions in the Financial Reform
Act legislation modifying the pleading and liability standards applicable to credit rating agencies in a manner adverse
to rating agencies; the possible loss of key employees; failures or malfunctions of our operations and infrastructure;
the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; the outcome
of those legacy tax matters and legal contingencies that relate to the Company, its predecessors and their affiliated
companies for which Moody’s has assumed portions of the financial responsibility; the ability of the Company to
successfully integrate acquired businesses; and a decline in the demand for credit risk management tools by financial
institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s
actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forwardlooking
statements are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual
report on Form 10-K, and in other filings made by the Company from time to time with the Securities and Exchange
Commission.